GW Pharmaceuticals (NASDAQ:GWPH) did not have a rosy walk for 2016 with revenue dropping 62% on a year-over-year basis. The company also reported a $21.8 million loss for the last quarter. With a record like this, the investors would have dreamt of red marks in the first week of 2017 itself. But, a surprise of all surprises is the company called GW Pharmaceuticals, whose stock woke up to a healthy start of the New Year.
The healthy start to New Year
We are almost half way through the first month of this year, and it is an ideal time to analyze what the shares were in 2016 and how they are responding this year. Albeit not expected, but the company’s shares showed a positive sign with an upward trend of 5.5% in the new trading week of this year. This can be attributed to GW Pharmaceuticals’ flagship therapies, through which, the company aims to treat rare forms of epilepsy. The results of efficacy in finishing stages of trials show positive sign.
The flagship therapies may push up company’s fortune for 2017
GW Pharmaceuticals is now waiting for its drug’s approval from the authorities, after which, the flagship therapies for epilepsy will join company’s other commercial drugs.
Anything special about this?
Well, yes! The impressive part is that both the drugs of this company are based on medical cannabis and medical marijuana, thereby bolstering the plant’s legitimacy. So, while there are a range of marijuana stocks in the market, this one is something that is for the serious investors. When it comes to the marijuana market, this company plays it right.
Remember the fact that GW Pharmaceuticals is among those drug called Sativex was the first one to seek approval as the prescription-based cannabis drug. UK was the first one to give it a nod in 2010 and after that, this drug has been approved in other 29 countries as well.
